Tag: Economic Crisis

Expensive Diesel and The Expansive Economic crisis – By Dakuku Peterside

Jun 27, 2022

—

by

Dakuku Peterside

in Columnist, Economy

Diesel has become a local symbol of the global energy crisis and Nigeria’s expansive economic woes. The astronomical rise in the price of diesel, the fuel that powers a large part of the industrial, commercial, and domestic activities in the Nigerian economy, has sent chills and ripples throughout the economy, from manufacturing giants through medium-sized…
Nigeria to witness economic crisis, high fiscal deficits over decision to reduce daily oil production – Fitch

May 20, 2020

—

by

Olaotan Falade

in Business News, News, Nigeria

Nigeria’s decision to take off 417,000 barrels per day from its crude oil production quota will lead to deeper economic contraction and higher fiscal deficits, says Fitch Ratings. The rating agency also added that the decision will further compound pressures on the country’s external finances resulting from the slump in oil prices, the nation’s main…